sprint softbank merger complete

Sprint announced in a press release this afternoon that SoftBank's acquisition of the Sprint Corporation had officially been completed. The two companies announced a mutual interest back in October of last year. After struggling with competing bids from Dish Network, SoftBank received its final regulatory approval for the merger from the FCC just a week ago.

The merger gives SoftBank CEO Masayoshi Son overarching control of Sprint as chairman of the Sprint board of directors, though Dan Hesse will stay on as the Sprint Corporation's CEO.